PRAG Ranked #2 “Top Financial Advisers” by The Bond Buyer

July 2017

The Bond Buyer reported PRAG ranked as the #2 financial advisory firm in the nation in the first half of 2017, according to Thomson Reuters. So far in 2017, PRAG has advised on 98 deals, totaling over $24.8 billion.

According to the Bond Buyer’s report published July 3, 2017, PRAG also ranked #1 as the “Top Financial Advisers (Competitive)” for the first half of 2017, having advised on $7.2 billion worth of competitive issues, as well as #2 “Top Financial Advisers (Negotiated)” with 56 issues totaling $17.5 billion.

ranks 2017

Source: Thomson Reuters. First Half 2017 – Equal Credit to Each Advisor. Based on Thomson Reuters’s AT7 league table. Dollar amounts are in millions. Rankings are final as of Jul. 3, 2017. Short-term notes, private placements and deals not meeting Thomson Reuters’s T+5 policy rule are excluded. Issues with multiple advisors divide the par amount equally among the advisors.

PRAG has been consistently ranked as one of the top three financial advisory firms nationally every year over the past two decades, having advised on over $905 billion worth of issues since our inception in 1985. PRAG’s financing experience includes revenue bonds, general obligation bonds, certificates of participation, commercial paper, revenue and tax anticipation notes, bond anticipation notes, securitizations, non-dollar denominated bonds, index notes, stepped-coupon obligations, as well as taxable municipal securities.

PRAG Ranked #2 “Top Financial Advisers” by The Bond Buyer

April 2017

The Bond Buyer reported PRAG ranked as the #2 financial advisory firm in the nation in the first quarter of 2017, according to Thomson Reuters. So far in 2017, PRAG has advised on 40 deals, totaling over $11.2 billion.

According to the Bond Buyer’s report published April 4, 2017, PRAG also ranked #1 as the “Top Financial Advisers (Competitive)” for the first quarter of 2017, having advised on $4.1 billion worth of competitive issues.

BB Rankings 4-4-17

BB Rankings Competitive 4-4-17

PRAG has been consistently ranked as one of the top three financial advisory firms nationally every year over the past two decades, having advised on over 1,200 issues totaling over $486 billion since our inception in 1985. PRAG’s financing experience includes revenue bonds, general obligation bonds, certificates of participation, commercial paper, revenue and tax anticipation notes, bond anticipation notes, securitizations, non-dollar denominated bonds, index notes, stepped-coupon obligations, as well as taxable municipal securities.

PRAG Ranked 3rd Largest Financial Advisor

February 2016

PRAG remains one of the top-ranked financial advisory firms in the nation. In its 2015 full year rankings, Thomson Reuters named PRAG the third largest financial advisory firm nationally, having advised on 155 deals, almost 10% of the market share. 75 of those deals, comprising 15% of the total market share, were competitive issues totaling over $12.4 billion. The remainder 80 deals were negotiated and totaled $18.4 billion or 8.1% of the total market share.

According to the Bond Buyer’s Annual Review published February 22, 2016, PRAG ranked as the top Financial Advisors for General Purpose issuances in 2015, having advised on $21.7 billion worth of issues.

Thompson Reuters US Municipal Financial Advisor Rankings for 2015.

Thompson Reuters US Municipal Financial Advisor Rankings for 2015.

PRAG has been consistently ranked as one of the top three financial advisory firms nationally every year over the past two decades, having completed approximately half a trillion dollars of transactions since the founding of PRAG in 1985. PRAG’s financing experience includes revenue bonds, general obligation bonds, certificates of participation, commercial paper, revenue and tax anticipation notes, bond anticipation notes, securitizations, non-dollar denominated bonds, index notes, stepped-coupon obligations, as well as taxable municipal securities.

PRAG’s Financial Advisory Rankings 1990 – 2016

Year

Dollar Volume

Number of Issues

Rank

Data Source

2016 $33,487,200.00 159

3

Securities Data Co.
2015 $30,902,000.00 155

3

Thomson Reuters
2014 $27,863,700.00 139

2

Thomson Reuters
2013 $30,959,600.00 121

2

Thomson Reuters
2012 $26,491,400.00 167

2

Thomson Reuters
2011 $20,854,700.00 119

2

Thomson Reuters
2010 $31,091,700.00 165

2

Thomson Reuters
2009 $42,489,000.00 172

2

Thomson Reuters
2008 $20,304,600.00 116

3

Thomson Reuters
2007 $27,253,400.00 97

3

Thomson Financial
2006 $18,504,900.00 115

3

Thomson Financial
2005 $21,950,800.00 107

2

Thomson Financial
2004 $24,254,900.00 117

2

Thomson Financial
2003 $37,067,000.00 146

2

Thomson Financial
2002 $33,734,600.00 133

1

Thomson Financial
2001 $19,261,300.00 121

2

Thomson Financial Securities Data
2000 $17,705,300.00 81

1

Thomson Financial Securities Data
1999 $13,668,300.00 67

2

Thomson Financial Securities Data
1998 $17,700,000.00 100

2

Securities Data Co.
1997 $20,042,500.00 87

1

Securities Data Co.
1996 $9,282,700.00 60

2

Securities Data Co.
1995 $10,560,300.00 65

1

Securities Data Co.
1994 $13,316,300.00 95

1

Securities Data Co.
1993 $19,654,100.00 153

1

Securities Data Co.
1992 $14,138,000.00 105

1

Securities Data Co.
1991 $11,643,300.00 74

1

Securities Data Co./Bond Buyer
1990 $5,884,200.00 41

2

Securities Data Co./Bond Buyer
Total: $566,578,600.00* 2,952 *1990 – 2015 only.

PRAG President Speaks at Bond Buyer Conference

February 19, 2015

Steven Peyser, President of PRAG, spoke at the The Bond Buyer’s National Outlook 2015 Conference held February 18 in New York City.  A highly debated topic on his panel, “Municipal Advisors Assuming a More Regulated Role,” was the Independent Registered Municipal Advisor, or IRMA, exemption, part of the SEC’s municipal advisor, or MA, registration rule, which went into effect last year.  The exemption allows an underwriter to avoid having to register as a MA as long as the issuer retains, as its own MA, an advisor that doesn’t have ties to an underwriting firm and says that it will rely on the MA’s advice.    Mr. Peyser discussed tweaking the exemption including the idea that the SEC grant another exemption for sophisticated issuers, which have historically used IRMAs, a suggestion that has garnered support from the industry.  Regulators recognized that the new MA rules may still have to be developed, as apparent by SEC Chief Counsel Rebecca Olsen’s statement there was “a lot of work left to do” on the rules in 2015. For more information on this panel and on The Bond Buyer’s National Outlook 2015 Conference please see the article “Municipal Advisors Concerned About IRMA Exemption” published in the February 18, 2015  The Bond Buyer.